Phoenix Insurance Company Ltd has decided to sell its 8-storey commercial building, Phoenix Bhaban, located at Dilkusha, Dhaka.
The building on a 8.61 katha plot, is jointly owned by Phoenix Insurance and Phoenix Finance in a 50:50 partnership.
The company said that the sale is part of its strategy to enhance investment income, diversify its portfolio, and meet other liabilities.
The decision was made during a board meeting on Wednesday, according to a disclosure made to the Dhaka Stock Exchange (DSE) on Thursday.
Following the announcement, Phoenix Insurance’s shares rose by 5.54% to Tk 28.60 apiece at the DSE.
